5 Wave Impulse + 7 Swing WXY correction
$TSLA 1H Elliott Wave Chart 8.20.2025:
In the 1-hour Elliott Wave count from August 20, 2025, we saw that $TSLA completed a 5-wave impulsive cycle at (v) of ((iii)). As expected, this initial wave prompted a pullback. We anticipated this pullback to unfold in 7 swings, likely finding buyers in the equal legs area between $318.59 and $304.99. This setup aligns with a typical Elliott Wave correction pattern (WXY), in which the market pauses briefly before resuming its primary trend.
$TSLA 1H Elliott Wave Chart 8.31.2025:
The latest weekend update, from August 31, 2025, shows that the stock bounced and made new highs as predicted. Currently, it is pulling back again and trading within extreme areas where a reaction is expected to take place soon looking for continuation higher towards 425 area.
Conclusion
In conclusion, our Elliott Wave analysis of Tesla Inc. ($TSLA) suggests that it remains supported against July 2025 lows. As a result, traders should buy the dips and monitor the $425 zone as the next potential target. In the meantime, keep an eye out for any corrective pullbacks that may offer entry opportunities. By applying Elliott Wave Theory, traders can better anticipate the structure of upcoming moves and enhance risk management in volatile markets.
$TSLA Elliott Wave Video Analysis
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